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Here is a site that sheds light on the history of the Banjo Clocks, included is an excerpt:

First in time, scarcity, and price (then as now) came the "banjo clock" of the Willard family. Simon Willard of Roxbury, Massachusetts, patented in 1802 a kind of wall clock that was usually cased by the maker himself in a banjo-shaped housing, the part for the movement nearly always round; the neck flaring toward the bottom, because the pendulum needed room to swing; and the bottom either round or rectangular. Occasionally the neck would carry a lyre-shaped front. Since these were "timepieces," with no striking mechanism, they ran by one weight, which hung down behind the pendulum. Banjo clocks were expensive when first made, partly, no doubt, because they were never sold uncased. Today they command so much money in the antique trade that all kinds of monkeyshines are profitable. Among the easiest is adding a maker's name. Many banjo clocks were not signed, perhaps, as Carl Dreppard has suggested in his book on American clocks, because they infringed on Simon Willard's patent; what more tempting, then, than to double their value by merely lettering S. WILLARD, PATENT On the panel? * http://www.oldandsold.com/articles02/article1104.shtml

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